Majik -
This is opinion only so take it as such.
If you are going to bother with an upgrade in the first place go to the 1080i/1080p. That is the new standard. 720 is a jumpoff point. Also BlueRay is becoming the next hot technology which is the higher res.
If space is not a concern and money is, go for the rear projection. Just make sure it has an Autoconvergence function so that you can realign it if it gets moved or knocked really hard. Plasma TVs lose half of their luminescence every 3 1/2 years, which basically means they get dimmer over time. LCDs may be replaced with eLEDs if they get that technology worked out to not hog so much power.
Just some things to ponder.
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